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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Kurdistan oil producers warn of “procrastination” in resuming exports and “ambiguity” in the mechani

    Rocky
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    Kurdistan oil producers warn of “procrastination” in resuming exports and “ambiguity” in the mechani Empty Kurdistan oil producers warn of “procrastination” in resuming exports and “ambiguity” in the mechani

    Post by Rocky Wed 04 Oct 2023, 7:55 am

    Kurdistan oil producers warn of “procrastination” in resuming exports and “ambiguity” in the mechanism for paying dues




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    2023-10-04 05:34
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    Shafaq News / Foreign companies producing oil in the Kurdistan Region warned of continued procrastination and failure to accelerate the resumption of exports of the region’s oil via the Turkish Ceyhan pipeline.
    Members of the companies (DNO, Genel Energy, Gulf Keystone Petroleum, HKN Energy, ShaMaran Petroleum) stated, in statements to the “Energy Voice” website, translated by Shafaq News Agency, that they will not be in a position to produce oil for export “until it becomes clear how their dues will be paid.” ".
    A spokesman for the "Adipec" company, which produces oil in the Kurdistan Region, said, "The pipeline between Iraq and Turkey will resume its operations this week, and that the companies will be able to provide 500,000 barrels per day to the market," he said.
    The website also quoted the Association of Petroleum Industry in Kurdistan (APIKUR) as saying that “members of the producer group cannot produce oil for export, until it is clear how they will be paid.”
    The association pointed out that "its members owe nearly a billion dollars in late and unpaid salaries," stressing at the same time its keenness to work with the governments of Baghdad and Erbil, to restore production and even increase the quantity to the maximum extent.
    She continued: “We believe that we can do this quickly and with high efficiency, but only after agreeing on payment arrangements and respecting the current contractual procedures.”
    The Kurdistan Petroleum Industry Association saw that the problem for producers in Kurdistan is that the government no longer controls payments to them, after this was transferred to the federal government in Baghdad, and there was a deficit in providing cash allocations.”
    Yesterday, Tuesday, an Iraqi oil official told Reuters that talks aimed at resuming Iraqi oil exports via a pipeline passing through Turkey are still continuing, one day after Turkey announced that operations would begin again this week after a nearly six-month hiatus.
    Turkish Energy Minister Alp Arslan Bayraktar said, on Monday, that Turkey will resume operating the pipeline this week, during his speech before a committee at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC).
    It is noteworthy that Ankara stopped pumping oil through the line that exports oil from the Kurdistan Region of Iraq about six months ago after a ruling was issued by the International Chamber of Commerce ordering Turkey to pay compensation to Baghdad for the damage it suffered from the region’s export of oil without permission from the government in Baghdad between 2014 and 2018.
    Turkey later began maintenance work on the pipeline, through which about 0.5 percent of global oil supplies pass.
    Baghdad and Ankara agreed to wait until the evaluation of the maintenance work of the line, which passes through an area of ​​seismic activity, is completed to resume pumping, while they are still waging a legal battle over arbitration decisions.
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